Bill and Terry, we also have the Blue Ox tow bar and I usually remove it once a year while in Quartzsite, AZ, at the big RV tent show so that Blue Ox can inspect it.
Over the years thay have tightened it where it was very difficult to swing it over to lay in the horizonal position. With a little force, I can do it. I had to buy a new part for it recently and the repair facility tighened it up so that I'm in the same situation again. It's getting better but I have to use a little force to get it in the stow position.
The bungee cord sounds like a good idea for extra safety.
Safe travels,
Mark